FAQs

You are here:

You are here

Home / FAQs

Republic Bank Customers

 
I am a Republic Bank customer, will I be allowed to exchange the old $100.00 notes?

No, you will not be able to do so, however, you can visit your home Branch and deposit the old bills into your account and then withdraw a maximum of $50,000 in polymer notes.

Will I be able to deposit more than $50,000?

Yes, you will be able to, however, the Bank requires a 48-hour notice.

Are there any requirements for depositing more than $50,000?

A Source of Funds (SOF) declaration must be completed for all transactions over $50,000 inclusive of the Bank’s normal Anti Money Laundering (AML) requirements.

Can a mix of old and new notes be deposited together?

Yes, a mix of old and new notes can be deposited, however, the old and new notes must be separated.

How soon can I get the new notes at the Bank?

The new notes are available at all Branches.
All Republic Bank ABMs are dispensing new polymer notes.
Customers are also encouraged to use our extensive Point of Sale (POS) network and electronic channels.

How much is the Point of Sale (POS) limit?

The POS limit has now been increased from $7,500 to $10,000.

Can I deposit the old notes through the ABM?

Yes, however the amount depends on whether the envelope can be inserted into the deposit slot.

How many envelopes can I deposit?

You can deposit as many as you wish, however you may be required to complete a Source of Funds.


Non-Bank Customers


I am not a Republic Bank customer, am I allowed to exchange the old $100.00 notes?

Yes, you will be able to based on the following:

  • The transaction is up to $10,000
  • You present one form of valid national ID
  • You provide proof of address - Recent Utility Bill no older than 3 months; Authorization Letter and copy of owner’s ID, if the utility bill is not in your name.
  • Fill out a Source of Funds (SOF) declaration for all amounts exchanged regardless of amount.
Is this applicable to companies?

Companies must exchange the old $100.00 notes at their bank or at the Central bank.


General


Up to what date can I deposit my old notes?

You have until December 31 to deposit old notes.

Will the Bank impose additional working hours for the deposit of the old $100.00 notes?

Yes, the Bank will temporarily amend its working hours to facilitate the deposit of the old $100.00 notes.

Non-mall branches: Monday to Thursday 8:00 a.m. - 4:00 p.m. and,
              Fridays 8:00 a.m. – 5:00 p.m. (no closure during the day).

All mall branches working hours remain unchanged (10:00 a.m. – 5:00 p.m.)

Due to our ABMs dispensing the new polymer notes and the introduction of extended opening hours to accommodate the new note, we have had the opportunity to review the customer traffic at our branches.

In light of this, we have taken the decision to revert to the regular Christmas Eve and New Year’s Eve business hours as follows:

Tuesday December 24, 2019 (Christmas Eve) and Tuesday December 31, 2019 (New Year’s Eve)

  • All Service Centres/Mall Branches - 10:00 a.m. – 2:00 p.m.
  • All other Branches - 8:00 a.m. – 1:00 p.m.

The following branches will be open on Saturdays during the month of December from 9:00 a.m. – 1:00 p.m. to provide teller services:

North

  • Ellerslie
  • West Mall
  • LCM
  • Glencoe
  • Diego Martin

South / Central:

  • South Park
  • Gulf View
  • Couva
  • Pt Fortin
  • Princes Town
  • Centre City

East:

  • Arima
  • Valpark
  • Trincity
  • Grand Bazaar

Tobago:

  • Auchenskeoch
How will the banks be treating with the exchange of the cotton $100 from persons who are currently abroad and would not be able to exchange the notes in their possession before the stipulated deadline.

Everyone will need to comply with the December 31st deadline.

In terms of the extended hours during the week and on Saturdays, will there be other services available to customers who visit the branches.

Only teller services at this time. No loan disbursements.

Go to top